Missouri Supreme Court overturns $350,000 statutory cap on non-economic damages
MPM Press Release
Local Insurer MPM Ready for Today’s Missouri Medical Malpractice Tort Reform Overturn: Insurance company had implemented an innovative, forward-looking reinsurance agreement to ensure rate stability
ST. LOUIS, JULY 31, 2012: Missouri Professionals Mutual was well prepared for the Missouri Supreme Court’s decision today to declare unconstitutional a state law placing limits on non-economic damages in medical malpractice lawsuits. The statutory cap had been $350,000. Click here to read the full release.
MPM Was Proactive to Protect Insureds
"I’ve seen this happen before and knew it would happen again. I proactively implemented a strategy to protect our insureds and maintain rate stability in the face of this type of decision."
Physicians Comment on MPM's Proactive Approach
With the recent Missouri Supreme Court ruling that overturned the tort reform we have had in Missouri for the last seven years, the decision by Tim Trout and MPM to secure retrocessional reinsurance earlier this year turned out to be a sign of genius. It provides unparalleled protection for the physicians who are insured with MPM.
-David L. Weinstein, M.D.
"When my large group needed malpractice insurance in 2003, we thought we would be forced to pay a 300% premium increase to one of the national carriers that wanted nothing more to do with the Missouri market. I called Tim Trout and his brand new company, MPM, and they were there for us with actuarially sound premiums, a cutting edge business model, and reinsurance treaties to protect the assets of the doctors and the company. Tim explained to me at that time that reinsurance was a safety net that some companies do not secure, but the protection it provides its insureds should make us all sleep easier at night. The test of time has proven that Tim was correct. It is now nine years later, and not only has MPM never raised their rates, but they have taken steps to proactively protect their insureds, such as securing retrocessional reinsurance. With the recent Missouri Supreme Court decision that overturns the tort reforms of 2005, Tim has proven, once again, that MPM represents the best interests of physicians and surgeons. Every promise made by Tim has been a promise kept. Tim Trout and his team at MPM are a group of the most competent, proactive insurance professionals and their integrity remains above reproach. It has been an honor to work with MPM, and to be protected by the best carrier around."
-John M. Lorei, M.D.
News about the Ruling
Q & A with An Attorney
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MPM encourages all physicians and their colleagues to make their voices heard about the the potential consequences of this ruling. To find contact information for your legislator, click here:
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